ZEW Survey – Current Situation

The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).

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Most recent - Tuesday 18 February 2025 10:00

-90.4

Forecast

-90

Actual

-88.5

Higher numbers than forecast tend to be bullish for EUR/xxx pairs and bearish for xxx/EUR pairs.

Next event - Tuesday 18 March 2025 10:00

Forecast

Actual

The typical/expected impact on EUR pairs is medium.

There is no forecast value for ZEW Survey – Current Situation yet - check back for updates.

Trading range

Forecast history

The most recent announced value for ZEW Survey – Current Situation was -88.5 against a forecast of -90.

Past events

Date

Forecast

Actual

Tuesday 18 February 2025 10:00

-90

-88.5

Tuesday 21 January 2025 10:00

-93.1

-90.4

Tuesday 17 December 2024 10:00

-92.6

-93.1

Tuesday 12 November 2024 10:00

-86

-91.4

Tuesday 15 October 2024 09:00

-84.5

-86.9

Tuesday 17 September 2024 09:00

-84.5

Tuesday 13 August 2024 09:00

-77.3

Tuesday 16 July 2024 09:00

-74.3

-68.9

Tuesday 18 June 2024 09:00

-65

-73.8

Tuesday 14 May 2024 09:00

-75

-72.3

Tuesday 16 April 2024 09:00

-79.2

Tuesday 19 March 2024 10:00

-82

-80.5

Tuesday 13 February 2024 10:00

-79

-81.7

Tuesday 16 January 2024 10:00

-77

-77.3

Tuesday 12 December 2023 10:00

-75.5

-77.1

Tuesday 14 November 2023 10:00

-76.7

-79.8

Tuesday 17 October 2023 09:00

-80.5

-79.9

Tuesday 12 September 2023 09:00

-75

-79.4

Tuesday 15 August 2023 09:00

-63

-71.3

Tuesday 11 July 2023 09:00

-60

-59.5

Tuesday 13 June 2023 09:00

-40

-56.5

Tuesday 16 May 2023 09:00

-37.5

-34.8

Tuesday 18 April 2023 09:00

-40

-32.5

Tuesday 21 March 2023 10:00

-45.8

-46.5

Tuesday 21 February 2023 10:00

-50

-45.1

Tuesday 17 January 2023 10:00

-57

-58.6

Tuesday 13 December 2022 10:00

-57

-61.4

Tuesday 15 November 2022 10:00

-68.4

-64.5

Tuesday 18 October 2022 09:00

-68

-72.2

Tuesday 13 September 2022 09:00

-52.2

-60.5

Tuesday 16 August 2022 09:00

-48

-47.6

Tuesday 12 July 2022 09:00

-34.5

-45.8

Tuesday 14 June 2022 09:00

-31

-27.6

Tuesday 10 May 2022 09:00

-35

-36.5

Tuesday 12 April 2022 09:00

-35

-30.8

Tuesday 15 March 2022 10:00

-22.5

-21.4

Economic context

Recent economic data has been moderately bullish for EUR. Other recent announcements which may affect the market's interpretation of the next ZEW Survey – Current Situation result:

		Previous	Latest
Consumer Price Index (MoM)	Bullish change	-0.2%	0.4%
Consumer Price Index (YoY)	(no change)	2.3%	2.3%
Harmonized Index of Consumer Prices (MoM)	Bullish change	-0.2%	0.6%
Harmonized Index of Consumer Prices (YoY)	(no change)	2.8%	2.8%
Consumer Price Index (EU Norm) (YoY)	(no change)	1.7%	1.7%
Consumer Price Index (YoY)	Bullish change	1.5%	1.7%
Unemployment Change	Bullish change	11K	5K
Unemployment Rate s.a.	(no change)	6.2%	6.2%
Consumer Price Index (EU norm) (YoY)	Bearish change	1.8%	0.9%
Retail Sales (MoM)	Bullish change	-1.6%	0.2%
Retail Sales (YoY)	Bullish change	1.8%	2.9%
Business Climate	Bullish change	-0.92	-0.74
Consumer Confidence	(no change)	-13.6	-13.6
Economic Sentiment Indicator	Bullish change	95.3	96.3
Harmonized Index of Consumer Prices (YoY)	(no change)	2.9%	2.9%
GfK Consumer Confidence Survey	Bearish change	-22.4	-24.7
Gross Domestic Product (QoQ)	(no change)	-0.2%	-0.2%
Gross Domestic Product (YoY)	(no change)	-0.2%	-0.2%
Gross Domestic Product w.d.a (YoY)	(no change)	-0.4%	-0.4%
Core Harmonized Index of Consumer Prices (MoM)	Bullish change	-1%	-0.9%
Core Harmonized Index of Consumer Prices (YoY)	(no change)	2.7%	2.7%
Harmonized Index of Consumer Prices (MoM)	(no change)	-0.3%	-0.3%
IFO – Business Climate	(no change)	85.2	85.2
IFO – Current Assessment	Bearish change	86	85
IFO – Expectations	Bullish change	84.3	85.4
HCOB Composite PMI	(no change)	50.2	50.2
HCOB Manufacturing PMI	Bullish change	46.6	47.3
HCOB Services PMI	Bearish change	51.3	50.7
Consumer Price Index (EU Norm) (YoY)	(no change)	1.7%	1.7%
Consumer Price Index (YoY)	(no change)	1.5%	1.5%
HCOB Composite PMI	Bullish change	50.5	51
HCOB Manufacturing PMI	Bullish change	45	46.1
HCOB Services PMI	Bearish change	52.5	52.2
HCOB Composite PMI	Bearish change	47.6	44.5
HCOB Manufacturing PMI	Bullish change	45	45.5
HCOB Services PMI	Bearish change	48.2	44.5
Consumer Confidence	Bullish change	-14.2	-13.6
Producer Price Index (MoM)	(no change)	-0.1%	-0.1%
Producer Price Index (YoY)	Bearish change	0.8%	0.5%
ZEW Survey – Economic Sentiment	Bullish change	10.3	26
ZEW Survey – Economic Sentiment	Bullish change	18	24.2
Consumer Price Index (EU norm) (YoY)	(no change)	1.8%	1.8%

About ZEW Survey – Current Situation

Country:	Germany
Currency:	EUR
Source:	ZEW - Leibniz Centre for European Economic Research
Category:	Economic Activity
Frequency:	Monthly

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Calendar - ZEW Survey – Current Situation - Germany

ZEW Survey – Current Situation

Most recent - Tuesday 18 February 2025 10:00

Next event - Tuesday 18 March 2025 10:00

Trading range

Trading range after each ZEW Survey – Current Situation event

Forecast history

Past events

Economic context

About ZEW Survey – Current Situation

Related events